Barnaby Monk noon, July 30
Reader Rewards: Merchant FAQ
List your business and it will be marketed to local Reader Rewards members through web listings, targeted emails, print, social media, and strategic community partnerships. Reader Rewards members will visit your business and make purchases with their registered credit/debit cards and earn cash back. At month's end, we send you a performance report and collect the reward and fee (this process allows your business to carry the capital throughout the month versus experiencing an instant discount at point of sale).
No changes in your business are necessary. There is no hardware or software installation required. We simply list your business in our online directory and promote your business to our members so they spend money at your location.
Reader Rewards provides consumer spend analytics that just aren't available to merchants otherwise. After three years of results, the increase in spending and frequency more than justifies the reasonable cost of our platform. Reader Rewards is truly the most cost-efficient marketing method in the merchant arena today. You’ve got nothing to lose, except loyal customers!
Merchants gain immediate access to new customers. Our members are currently spending 32% more than average customers. So even if you offer a 15% cash back rebate, you’ve still increased your profits by 17%. Additionally, our members are spending on average 1.6 times more often per month. With Reader Rewards, you reduce advertising waste and gain measurable results!
Absolutely! The rewards concept has been proven to influence spending habits. So, by offering a rebate to our targeted membership group, you’re maximizing the merchant-customer relationship.
According to a recent market study conducted by a leading market research firm in San Diego, 65% of local consumers stated they found more value in cash rebates than coupons, miles, or points. In addition, 81% stated they would change merchants for a cash rebate incentive.
The volatility and economic challenges of the merchant marketplace are always forcing merchants to seek a competitive edge. Offering our seamless, cash-back rebate program that is free for members gives you that edge to effectively retain customers. Most surveys show that keeping one existing customer is 5 to 7 times more profitable than it is to seek new, single-transaction customers.